Sierra Systems completed the following share issuance transactions: Sep 19 Issued 1,300 common shares for cash of

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Sierra Systems completed the following share issuance transactions:

Sep 19 Issued 1,300 common shares for cash of $10.00 per share.

Oct 3 Sold 500 preferred shares for $25,000 cash.

11 Received inventory valued at $21,000 and equipment with a market value of $16,000. Issued 12,000 common shares in exchange.

Requirements

Journalize the transactions. Explanations are not required.

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Financial Accounting

ISBN: 978-0132889711

1st Canadian Edition

Authors: Jeffrey Waybright, Liang Hsuan Chen, Rhonda Pyper

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Question Posted: Jul 08, 2015 02:46 AM

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Sierra Systems completed the following share issuance transactions: Sep 19 Issued 1,300 common shares for cash of

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Journal DATE ACCOUNTS POST REF DR CR Sep 19 C...View the full answer

Financial Accounting

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